Bill to Revenue Commissioners for 'drug ship' now totals €12m as they struggle to complete sale

Gordon Deegan

The bill to the Revenue Commissioners of storing, managing, and maintaining the seized 'drug ship', the MV Matthew now totals almost €12 million.

That is according to new figures provided by the former Minister for Finance, Paschal Donohoe, who has told Michael Collins TD (Independent Ireland) that the spend to the end of October totals €11.93 million.

The €11.93 million equates to an average €111,555 spent per week since the MV Matthew was seized on September 26th, 2023 in a dramatic drugs operation off the south coast.

On board, gardaí and Revenue Customs officers found 2.2 tonnes of cocaine worth an estimated €157 million.

Eight people were later convicted and sentenced to a total of 129 years in prison last July.

Earlier this week, authorities relocated the MV Matthew to a new location in Cork Harbour from its berth near the former IFI plant to the Verolme dockyard site.

The relocation comes against the background of the Revenue Commissioners struggling to complete the sale of the 189-metre bulk cargo vessel of 28,647 gross tonnage.

In his written Dáil reply, the former Minister Donohoe discloses that the €11.93 million costs are made up of €4.8 million in maintenance, €4.18 million in staffing, and €2.93 million in berthing.

He told Deputy Collins that the bidding process for the ship concluded in Q1 2025 when a preferred bidder was identified.

He said: “Revenue continues to engage with the bidder’s representative."

He said: “There are significant regulatory and legal obligations which must be fulfilled to finalise the disposal of the MV Matthew and to facilitate the removal of the vessel from Cork Harbour.”

He said that since March 2025, Revenue has been actively engaging with the vessel’s Flag State (Panama) to ensure that these regulatory requirements are satisfied.

He said that the manner in which regulatory processes were conducted by the previous owner has resulted in certain difficulties and delays in Revenue being in a position to progress the disposal.

He said: “Following engagement between Revenue, the Department of Foreign Affairs and Trade, and Panamanian officials, progress has been made in addressing some of these difficulties, including the registration of Revenue’s ownership of the vessel in the Flag State which was a requirement to facilitate Revenue’s disposing of the vessel. Accordingly, it is anticipated that progress can now be made in the disposal process.”

He said that delays and difficulties in the disposal process have been created by the complexity of registration of ownership and regulatory processes created by the conduct of the previous owner and the use of the vessel as a conveyance for international drug smuggling.

He said the Revenue Commissioners have engaged robustly with the market through an international shipping broker and have actively engaged with parties interested in acquiring the vessel.

"However, it has not been possible to agree a contract for sale with interested parties at this time, and the Revenue Commissioners will be proceeding to arrange a Class survey to advance the certification and clearance processes necessary to facilitate the departure of the vessel.

"As it stands, there remain certain regulatory and Port State Control matters to be addressed. Revenue is engaging with the necessary State agencies to progress these matters

"As such, it is not possible to give a firm timeline for the disposal and departure of the vessel at this point. However, Revenue is considering all options, including the recycling of the vessel, such that the disposal and removal of the vessel can proceed most expediently," he said.